Article 2 (Definitions)

The definitions of terms used in this Act are as follows. <Amended Jan. 28, 2014, Jun. 9, 2020> 1. "Brokerage" means the act of arranging transactions such as sales, exchanges, leases, or other acquisition or loss of rights concerning brokerage objects under Article 3 between transaction parties. 2. "Licensed real estate agent" means a person who has obtained a license as a licensed real estate agent under this Act. 3. "Real estate brokerage business" means the business of engaging in brokerage for a certain fee upon the request of another person. 4. "Real estate broker" means a person who has registered to open a brokerage office under this Act. 5. "Employee licensed real estate agent" means a licensed real estate agent affiliated with a real estate broker (including a person who is a licensed real estate agent among the members or officers of a corporation that is a real estate broker) who performs brokerage services or assists the brokerage services of the real estate broker. 6. "Brokerage assistant" means a person who is not a licensed real estate agent and is affiliated with a real estate broker, who assists with simple tasks related to the brokerage services of the real estate broker, such as on-site guidance for brokerage objects and general clerical work.